Wednesday, April 24, 2024

Higher prices ‘on horizon’


Share post:

Barbadians are likely to soon face increased prices despite Government’s effort to shield them from higher costs by capping taxation on petroleum products and shipped goods.

Economist Professor Winston Moore and some senior members of the business community gave this assessment yesterday in response to Prime Minister Mia Amor Mottley’s Budget proposals intended to give consumers a cost of living ease.

Moore, Professor of economics and deputy principal, University of the West Indies, Cave Hill Campus, told the Barbados Chamber of Commerce & Industry’s Post-Budget Breakfast Forum at the Lloyd Erskine Sandiford Centre that based on increased inflation in the United States, he expects higher prices to reach Barbados “over the next couple of months”.

“Our inflation rate last year was around three to four per cent. The statistics for the United States just came out and they are estimating that their rate of inflation for the last couple of months was around eight per cent,” he said. (SC)


Subscribe now to our eNATION edition for the full story.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.



Please enter your comment!
Please enter your name here

Related articles

Usain Bolt named ICC Men’s T20 World Cup 2024 Ambassador

ST JOHN’S, Antigua – The International Cricket Council (ICC) have announced Olympic legend Usain Bolt as an ambassador...

Missing teen traced

Donisha Keanna Thomas,14, of Alexandria, St. Lucy, who wasreported missing on Wednesday, March 27, 2024, has been traced...

Russian deputy defence minister Timur Ivanov accused of taking bribes

A Russian deputy defence minister has been accused of taking bribes and remanded in custody by a court...

Chief Magistrate a stickler for use of proper English

Chief Magistrate Ian Weekes is not impressed by parents who give their children choices from young and who...